Cleveland-based Charter One Financial Inc. says the deal it announced last week to buy Firstfed Michigan Corp. will help it expand its consumer lending - most of which is in home equity loans.

John D. Koch, executive vice president of Charter One, said it plans to grow its consumer-loan assets substantially over the next five years.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.